PT Surabaya Agung Industri Pulp & Kertas Tbk.

Paper and Allied Products

Head Office Jalan Kedungdoro No. 60 8th-10th Floor Summary of Financial Statement
Surabaya 60251 Jawa Timur-Indonesia (Million Rupiah)
Phone (031) 548-2003-18 2007 2008 2009
Fax (031) 548-2039, 548-2040 Total Assets 2,661,804 2,523,434 2,413,703
E-mail Address: ird@suryakertas.com Current Assets 232,365 222,830 212,436
Homepage: http://www.suryakertas.com of which
Cash and cash equivalents 1,714 4,762 2,793
Factory Jalan Raya Driyorejo, Gresik, Jawa Timur Trade receivables 78,464 62,765 72,159
Phone (031) 750-7129-30 Inventories 132,918 139,027 123,819
Fax (031) 750-7363 Non-Current Assets 2,429,440 2,300,604 2,201,267
E-mail address: ird@suryakertas.com of which
Fixed Assets-Net 2,413,289 2,284,339 2,190,105
Homepage: http://www.suryakertas.com
Business Paper Industry Liabilities 3,373,606 3,669,939 3,224,643
Company Status PMDN Current Liabilities 107,007 233,011 234,513
of which
Short term-debt 17,003 135,969 173,854
Financial Performance: The Company successfully booked Trade payables 58,032 55,418 37,823
net income at IDR335.5 billion in 2009, while in previous year Taxes payable 1,781 5,571 1,016
suffered net loss at IDR434.7 billion. Non-Current Liabilities 3,266,598 3,436,927 2,990,131

Brief History: The Company was founded on August Shareholders' Equity ( 711,801) ( 1,146,504) ( 810,941)
Paid-up capital 1,540,860 1,540,860 1,540,860
31st 1973 by Tirtomulyadi Sulistyo, equipped with modern Revaluation of fixed assets 197,548 n.a n.a
computerized machines which occupy 45 hectares of land Retained earnings (accumulated loss) ( 2,450,209) ( 2,687,364) ( 2,351,801)
at Driyorejo. It started its commercial production in 1976 Net Sales 673,176 653,101 452,652
with an initial production capacity of only 5,000 tons a year. Cost of Goods Sold 677,779 677,073 441,733
On 1998, the company has operate 8 (eight) units of paper Gross Profit ( 4,604) ( 23,972) 10,918
Operating Expenses 84,030 86,773 60,608
machinery, for papers and boards, with total annual production Operating Profit ( 88,634) ( 110,745) ( 49,690)
capacity of 329,400 tons. Surabaya Agung operates with sincere Other Income (Expenses) ( 130,141) ( 498,216) 501,363
Profit (Loss) before Taxes ( 218,775) ( 608,960) 451,673
integrity and commitment to its customers, employees, share- Profit (Loss) after Taxes 203,847 ( 434,703) 353,564
holders and incessantly controls the quality and performance of
Per Share Data (Rp)
highly qualified products. Earnings (Loss) per Share 127 (126) 102
Equity per Share ( 443) ( 332) ( 235)
Dividend per Share n.a n.a n.a
Closing Price 335 190 113

Financial Ratios
PER (x) 2.64 (1.51) 1.10
PBV (x) (0.76) (0.57) (0.48)
Dividend Payout (%) n.a n.a n.a
Dividend Yield (%) n.a n.a n.a

Current Ratio (x) 2.17 0.96 0.91

Leverage Ratio (x) 1.27 1.45 1.34
Gross Profit Margin (x) n.a n.a n.a
Operating Profit Margin (x) n.a n.a n.a
Net Profit Margin (x) 0.30 n.a 0.78
Inventory Turnover (x) 5.10 4.87 3.57
Total Assets Turnover (x) 0.25 0.26 0.19
ROI (%) 7.66 (17.23) 14.65
ROE (%) 28.64 (37.92) 43.60

PER = 2.32x ; PBV = -0.71x (June 2010)

Financial Year: December 31
Public Accountant: Anwar & Co.

(million rupiah)
2010 2009
June June

Total Assets 2,406,167 2,414,938

Current Assets 256,086 173,078
Non-Current Assets 2,150,081 2,241,860
Liabilities 3,163,069 3,431,493
Shareholders' Equity (756,903) (1,016,555)
Shareholders Net Sales 241,232 245,069
ZT Holding Pte., Ltd. 76.28% Profit after Taxes 54,038 129,949
PT Bank Resona Perdania 6.31%
PT Intan Teguh Sejati 6.20% ROI (%) 2.25 5.38
Public 11.21% ROE (%) (7.14) (12.78)

216 Indonesian Capital Market Directory 2010

PT Surabaya Agung Industri Pulp & Kertas Tbk. Paper and Allied Products

Board of Commissioners Board of Directors

President Commissioner Zhang Hui Han Sindu President Director Tirtomulyadi Sulistyo
Commissioners Imanuel Robert Najoan, Hariyadi Welim Directors Y.M. Kenny Wailanduw, Any Indrawati,
Rasmachahjana Sulistyo
Number of Employees 1,217

No Type of Listing Listing Date Trading Date Number of Shares Total Listed
per Listing Shares
1 First Issue 03-May-93 03-May-93 20,000,000 20,000,000
2 Company Listing 03-May-93 23-Nov-93 92,000,000 112,000,000
3 Bonus Shares 02-Jan-95 02-Jan-95 56,000,000 168,000,000
4 Right Issue 15-Mar-96 15-Mar-96 126,000,000 294,000,000
5 Additional Listing without
Pre-emptive Rights 27-Dec-07 27-Dec-07 3,156,607,595 3,450,607,595

Lead Managing Underwriter PT Jardine Fleming Nusantara

Underwriters PT G.K. Goh Ometraco, PT Jasereh Utama, PT Morgan Grenfell Asia Indonesia, PT Baring Securities Indonesia,
PT Niaga Securities, PT Danareksa Sekuritas, PT Agung Securities Indonesia, PT Mashill Jaya Securities

Stock Price, Frequency, Trading Days, Number and Value of Shares Traded and Market Capitalization

Stock Price and Traded Chart

Stock Price (Rp) Thousand Shares
200 180

180 160

160
140

140
120
120
100
100
80
80
60
60

40
40

20 20

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Jan-09 Feb-09Mar-09 Apr-09 May-09 Jun-09 Jul-09 Aug-09 Sep-09 Oct-09 Nov-09 Dec-09 Jan-10 Feb-10Mar-10 Apr-10 May-10 Jun-10

Institute for Economic and Financial Research 217